GFT Broker Review | Forex Broker Review & Rating

Global Forex Trading, or simply GFT, is a retail forex broker that started its business in the late 1990s. Its main base is situated in Ada, Michiga, USA; however, GFT has a lot more branches located in other countries such as in Australia, Singapore, the United Kingdom, Japan, and Dubai. GFT was one of the brokers which had the initiative to offer retail forex trading in the year 1997. With this initiative, GFT was able to expand its operation in just a span of 10 years. With that, GFT is able to accommodate thousands of clients coming from over 120 countries.

What’s good about GFT is that it allows its brokers to execute more than 120 currency pairs, and that includes the very common and in demand pair EUR/USD. With spreads as low as 1 pip only, traders and brokers only have low risks involved in every transaction. With regard to the GFT website, clients do not have a hard time navigating because all the menus and features are organized well, thus making the GFT website very user-friendly. To assure the clients of reliability, GFT has already received a number of awards including growth, entrepreneurship, and technology. This makes GFT a well-respected and trusted forex broker worldwide.

To ensure quality services, GFT is regulated by a lot of well-distinguished regulatory bodies including

-(USA) A Futures Commission Merchant with the Commodity Futures Trading

-(USA) National Futures Association

-(Japan) Financial Services Agency

-(Australia) Australian Securities and Investments Commission

-(Singapore) Monetary Authority of Singapore

-(Dubai) Dubai Gold and Commodities Exchange

-(Dubai) Dubai Multi Commodities Centre

-(UK) Financial Services Authority

In addition to that, traders should also check the websites of the different regulatory bodies in order to see if there are complaints posted online by certain regulators about the different forex brokers.

Different GFT Trading Software

GFT DealBook 360: Among other platforms offered by GFT, the DealBook 360 is the one mostly used and preferred by different traders. It is because the GFT DealBook 360 offers the widest services compared with the other platforms. These services include over 85 technical indicators, different charting tools, and news to help traders with trading. The different news sources are Reuters, Informa Global Markets, and Dow Jones Newshires. Although it may sound very appealing to the ears, traders have to pay a certain price in order to maximize all those services. Like for US accounts, an amount of $25,000 has to be deposited first. Even though the price is quite high, the availability of all the services still deserve a two thumbs up.

GFT DealBook Web: The GFT DealBook Web is made available in order to cater the needs of those traders who keep on travelling and those who use different computers all the time. With that being said, traders do not have to download the platform in order to perform some transactions. They just have to visit the site and do the transactions on the web. With that, traders will not have a hard time accessing their accounts wherever they may be. Furthermore, the GFT DealBook Web is made available both for Mac and Windows users, thus making such GFT platform available to nearly all computers.

GFT DealBook Mobile: The only difference GFT DealBook Mobile has compared with the GFT DealBook Web is that the accounts are accessed using mobile devices. The mobile devices are iPhone, Blackberry, Smartphones, and Pocket PCs. With the GFT DealBook Mobile then, traders do not need to contact a dealing desk or sit in front of a computer just so you could visit your account. With just a simple touch with your mobile devices, you can immediately monitor your transactions and view past historical data without hassle.

With the availability of the different platforms, traders will have the ease in doing trading whether they are at home, in the office, or even having a vacation. This innovation makes traders to go for GFT. Besides being reliable, GFT is also very much advanced in terms of technology.

Forex Education

Free of charge educational tools are provided by GFT to all its live traders. Various topics include fundamental analysis, technical analysis, and many more. The utilization of educational tools enables the traders to understand deeply all the information that they need to understand. Downloadable guides are also provided by GFT that are free of charge. These guides are best for beginners, intermediate, and even expert traders.

Different GFT Accounts:

GFT offers different accounts to its users.

GFT Bronze Account—This is the smallest and simplest account offered by GFT. The minimum balance for this GFT account is only $2,500, and the maximum is $9,900. The services in the GFT Bronze account include Informa Global Markets News and 85 market indicators. Also, other analysis tools can be made available but an additional cost already.

GFT Silver Account—The GFT Silver account is better than the bronze account but is more expensive. In fact in this GFT account, deposits range from $10,000 to $49,999. Also, more news feed are incorporated, namely the Informa Global Markets and the Dow Jones. Furthermore with this GFT account, traders are provided with one tool analysis that is given free for 3 months only.

GFT Gold Account­—For the GFT Gold Account, the deposit required is way higher reaching to $50,000 to as much as $249,999. GFT Gold account services are wider, and they include three news feeds, such as Reuters, Informa Global Markets, and Dow Jones, 2 analysis tools that are still good for 3 months, a waived withdrawal fee for one wire transfer, and last is a premium roll service.

GFT Platinum Account—This GFT Platinum account is the most prestigious account among all other GFT accounts. The deposit has to be above $250,000 in order for traders to qualify in such account. The same with the gold account, the 3 news feeds are also offered. For the analysis tools, 2 tools are also provided for free but this time, 3 months more is added, so that makes it a total of 6 months. Waived withdrawal fee for 4 wire transfers is also offered. And also, traders are able to tune in to live market commentaries in order to monitor the flow of trading in the market.

GFT Leverages

For leverages, GFT brokers in the US range from 1:1 to 50:1. But for other GFT branches in other countries, leverages may reach even up to 400:1. This leverage makes GFT very competitive and tough in the forex market. This is actually because not much brokers offer more than 500:1 leverage in the forex industry, as 500:1 is already too risky for brokers and traders.

Bonuses

GFT makes forex very enticing and exciting by giving more bonuses to its clients. Some of the bonuses given by GFT include

5% bonuses for traders who deposit funds between $10,000 and $100,000. For deposited amounts that are more than $100,000, GFT will give a maximum bonus of $5,000. The bonuses are credited into the traders’ accounts provided that the needed requirements are met. It usually takes within 60 days before the bonuses are credited. The requirements state that for every $1,000 bonus, clients have to complete 125 round turns of 1 standard lot.

$1 every standard lot. This bonus is only made available to clients who have a GFT account and who are currently trading with different brokers. The rebates are being credited within 30 days following the end of the month.

Deposit and Withdrawals

GFT brokers also provide a wide variety of deposit and withdrawal methods.

-Major Credit Cards—These major credit cards include Visa, MasterCard, AmEx, and Discover. GFT requires that deposits using this method have to follow a $50,000 minimum deposit and $75,000 maximum deposit. For the transaction to be completed, depositors have to wait a maximum of 24 hours.

-PayPal—GFT requires a minimum deposit of $100 for PayPal users only. Usually, the process still takes up to 24 hours before it will be completed.

-Wire Transfer—Although there is no minimum or maximum deposit, the transaction process may take longer, up to 48 hours.

-Checks—Just like wire transfers, GFT does not require a minimum or maximum deposit. The only drawback here is that it takes up to 5 business days from the time the checks are received before the transaction will be completed.

-eChecks—A minimum deposit of $50 is required, and a maximum deposit of $10,000 only. Just like ordinary checks, it also takes up to 5 business days before the process gets completed.

Overall Review

In general, GFT is highly recommended not just to traders who are well-off. Although GFT is quite expensive, traders are still compensated well because of the fact that GFT is well regulated by a lot of well-respected and trusted associations and commissions. This gives traders the assurance that GFT is a very reliable forex broker. With the high-end platform and highly technological software employed by GFT, traders will not have a hard time performing different transactions online either with the use of computers or even mobile devices. Being in the industry for more than a decade now, GFT is able to serve its clients well by providing high quality brokerage services as well as 24/7 customer support service.

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Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.